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OTB (Diesel) 2015 earnings decline by 36%

For OTB (Only The Brave), 2015 was yet another transitional year following an important restructuring of its parent company, Diesel which represents 65 percent of the total group sales. The restructuring including the trimming of its wholesale network has resulted in a shortfall of 100 million euros.

The groups earnings however are down with net earnings of 3,5 million euros compared to 5,5 million in 2014 (-36 %), and a gross operating income of 74 million euros in 2015 compared to 117,4 million euros seen one year earlier (-37 %).

Last year was particularly marked by the launch of its e-commerce Diesel site, which “registered a double number increase from its launch” says the group in a news release, also recapping the renewal of its licencing agreement with Fossil’s turnover coming in at 200 million euros.